LinkedIn to acquire mobile news reader Pulse
Another technology acquisition further underlines the importance of the mobile market in today's business world and individuals' everyday lives. LinkedIn is set to acquire Pulse, a newsreader application. The professional networking site has been widening its scope over the last few years, hoping to focus on business news articles and columns being read by those in the corporate world.
Deep Nishar, LinkedIn's senior vice president of products and user experience, said in a blog post that company officials believe LinkedIn can be the definitive professional publishing platform. They want employees to be able to find applicable content on their site and for publishers to be willing to share that content.
"Millions of professionals are already starting their day on LinkedIn to glean the professional insights and knowledge they need to make them great at their jobs," Nishar said in a press release. "Pulse is a perfect complement to this vision."
Ankit Gupta, one of Pulse's co-creators, said in an announcement that his company will work together with LinkedIn to create new possibilities for content discovery. He added that the two companies want to help readers engage in conversations with colleagues, mentors, industry leaders and beyond.
The acquisition is valued at approximately $90 million, subject to adjustment, in a combination of approximately 90 percent stock and approximately 10 percent cash, according to reports.
This is another example of how technology mergers and acquisitions benefit all companies involved. With Pulse having more than 30 million users in 190 countries, and LinkedIn with over 200 million registered members located in more than 200 countries by the end of 2012, organization officials are optimistic in their ability to continue growing.